Aboitiz Power unit raises $709.1m debt to fund 300 MW power plant construction

Visual from the company website

Therma Visayas Inc, a subsidiary of Philippine holding firm Aboitiz Power Corp, obtained a total of $709.1 million (P31.97 billion) loans and credit accommodations from lender-banks to finance the construction of a 300 MW coal-fired power plant.

Aboitiz informed the stock exchange on Friday that Therma Visayas signed an Omnibus Agreement with a consortium of lender-banks to secure the loan.

The power plant that Therma Visayas plans to finance will be built at Barangay Bato, Toledo City, in Cebu.

First Metro Investment Corporation acted as lead arranger and sole bookrunner in the transaction, while BDO Unibank Inc – Trust and Investments Group, was appointed as trustee and project loan facility agent.

Aboitiz Power’s last trading price increased 1.12 per cent or P0.50 to close at P44.95 on Friday.

Also Read:

Aboitiz, PetNet ink $22.5m equity acquisition deal in PH

PH Dealbook: Aboitiz to invest in CRH, SMC disposes property, H2O sells subsidiary

PH partners Aboitiz-JV Angeles seal $223m water supply project

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.